Fifa president Gianni Infantino has proposed staging what would effectively be a mini World Cup, featuring eight international teams, every two years in addition to the traditional competition.

The tournament, known as the Final 8, would be the climax of a global Nations League competition, which is part of an ambitious plan to reform international football which Fifa believes could be worth $25bn in a 12-year cycle.

In a letter Infantino suggested that the new tournament would take place in October and/or November of every odd year starting from 2021.

He said that a “solid and serious” group of investors were willing to spend $25bn on the competition and a revamped version of the Club World Cup, which would also start in 2021 with 24 teams.

The Confederations Cup, staged every four years, would be abolished. The letter did not indicate how many slots would be allocated to each region. The plans were sent by Infantino to the members of Fifa’s decision-making council, which still has to approve them.